Global Shellac market is valued at USD 147.32 million in 2017
Tuesday, 09 Oct, 2018

Shellac is mainly produced in India and Thailand. Smaller quantities come from China and Vietnam. The product is manufactured in a process known since the old times as melting filtration. Nowadays hiqh-quality, dewaxed and decoloured Shellac is manufactured.

 

In terms of volume, the global Shellac Production was 31241 MT in 2017, and it is predicted to reach 38905 MT in 2024. In 2017, the global Shellac market is led by India, capturing about 55% of global Shellac production. Southeast Asia is the second-largest region-wise market with 30% of production share.

 

In 2017, the production in India is about 17185 MT, Jharkhand state ranks 1st followed by Madhya Pradesh, Chhattisgarh, Maharashtra and Odisha. The cultivation of lac on a large number of hosts of different kinds, its collection by numerous small growers, variations in the yield depending on the type and size of the host, cultivation practices and climatic conditions are the major factors influencing the estimation of Shellac production. Overall, the total production in 2014 has declined by 19 % in comparison of the Shellac production during 2013.

 

At present, the major manufacturers of Shellac are concentrated in D. Manoharlal (Shellac), Mahabir Shellac Factory, Aadhya International, Vishnu Shellac Factory, Gupta Brothers (Shellac), Prakash Shellacs Factory, Chuxiong DES Shellac, Hind Suter Shellac etc.

 

The global Shellac market is valued at USD 147.32 million in 2017 and is expected to reach USD 193.84 million by the end of 2024, growing at a Growth Rate of 4% between 2017 and 2024. India was the largest regional market for Shellac, with revenue exceeding USD 77 million in 2017. It will be 105.33 million USD in 2024, with a Growth Rate 4.54% from 2017 to 2024.

 

In application, Shellac downstream is wide and recently Shellac has acquired increasing significance in various fields of Food Industry, Pharmaceutical Industry, Cosmetic Industry, Industrial Applications and others.